What’s in a Construction quote template?

Writing clear, easy-to-understand bids can be time consuming. But there are ways to make the job easier. The use of quote templates is a fundamental way to get a construction quote proposal started quickly, while ensuring no critical items are forgotten.

How a quote template benefits the construction project

A quote template is a form or document that builders and trades use to prepare and submit their price estimates for a home construction project. A quote template streamlines the bidding process and ensures consistency from job to job.

Let’s review the benefits of a quote template:

Standardization

As mentioned, it’s important for a builder to quote in a consistent manner so forecasting profitability becomes more accurate and major tasks are not forgotten. A quote template ensures that all bids are presented in a consistent format, making it easier for builders to compare the success of each project, helps avoid confusion and ensures that no critical project expenditures are overlooked.

Efficiency

Using a quote template saves time by allowing home builders to input details into predefined sections instead of creating a new quote from scratch each time.

 Transparency

A quote template provides builders an easy way to outline the project cost and scope, making it easier for the client to understand where their money is going and what services are included. This promotes transparency between builders, trades and the client. 

Professionalism

A well-organized quote template reflects the builder’s professionalism, helping build trust with the client. It also demonstrates attention to detail and preparedness, which can be a competitive advantage when multiple trades are bidding the same project.

Building a winning construction quote template

With a construction quote template, submitting proposals for home construction projects becomes quick and easy, ensuring builders provide all necessary details for their construction bids.

Key components of a construction quote template 

Basic information

• Project Name: title or description of the project.
• Bidder Information: name, address, contact information of the trade or construction company submitting the bid.
• Client Information: name, address, contact details of the project owner or client.

Job scope

• Description of work: detailed explanation of the work to be performed.
• Project timeline: estimated start and completion dates, along with key milestones.
• Specifications: materials, equipment, and methods to be used, often based on the client’s project documents or requests.

Exclusions

• Work or items not included in the quote document to avoid misunderstandings.

Cost breakdown

•  Labor: detailed estimation of labor expenses (hours, rate per hour).
•  Material: cost of materials required, including unit pricing and quantities.
•  Equipment: costs associated with renting or using machinery.
•  Trades: expenses for any work subcontracted to third parties.
•  Overhead and profit: operational costs and the profit margin added to the bid.
• Contingency: allocated funds to cover unexpected project expenses. 

Terms

• Schedule of payments: how and when payments will be made (e.g., percentage at milestones, progress payments).
• Retainage: percentage of payment held back until the project is completed satisfactorily.
• Late payment terms and conditions: includes interest or penalties. 

Warranty and guarantees

• Workmanship warranty: duration and conditions under which the tradie guarantees their work.
•  Material guarantees: warranties provided for materials, either from the trades or manufacturers.

Variations

• Procedure: explanation of how modifications to the project scope or cost will be handled.
• Pricing: details on how additional work or changes will be charged.

Terms and conditions

• Legal Term: provisions around liability, insurance, and dispute resolution.
• Permits and approvals: clarification on responsibility for securing necessary permits and approvals.
• Cancellation policy: terms under which either party can cancel the contract.

Signatures

•  Client signature: Signature and date of the client approving the bid.
•  Builder signature: Signature and date of the builder submitting the bid.